Buying a piece of an NFL team is a no-brainer, money-making investment.
If, that is, you have the enormous pile of cash to make it happen.
And now, Giants legends Michael Strahan and Eli Manning are facing some imposing competition in their battle to purchase a piece of the franchise.
The Giants are looking to sell up to 10% of the team — a non-controlling, minority stake.
The latest potential bidder, according to CNBC — billionaire investor Julia Koch, who just purchased a piece of the Brooklyn Nets and also the WNBA’s New York Liberty. (Koch was married to David Koch and inherited his fortune when he died in 2019.)
Here’s CNBC with more on Koch seeking to buy some of the Giants:
Koch and her family are interested in additional investments in teams, especially in the New York market, according to a person familiar with Koch’s thinking. Koch and her family have a net worth of $74 billion, according to Forbes.
Two people familiar with the matter told CNBC that the situation around investment in the Giants remains very fluid, with different individuals and groups speaking with each other about forming a limited partnership to buy a stake. The stake is likely to be less than 10%, according to another person familiar with the matter.
The Giants were recently valued at $7.85 billion by CNBC — fourth in the NFL. So that’s why Strahan and Manning — who are part of competing groups hoping to land a minority share of the team — can’t just go it alone, with their own cash, if they want to get a slice of the Giants.
As for the Giants’ valuation, it’s worth noting that the 49ers just got a record $8.6 billion valuation while selling 6.2% of the team. The Eagles, who have also sold a minority stake, had the NFL’s previous record ($8.3 billion). So it’s possible the Giants could be valued at, say, $9 billion.
No matter how you view it, selling a non-controlling, minority stake is an easy, no-strings-attached way for an NFL team owner (like John Mara, who shares the Giants with Steve Tisch) to land a massive pile of cash.
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Darryl Slater may be reached atdslater@njadvancemedia.com.